Beijing's Blockchain-Based Supply Chain Credit and Debt Platform Has Officially Launched

Abstract : Beijing's blockchain-based supply chain credit and debt platform uses the Beijing Xiaowei Financial Services Platform, a subsidiary of Beijing Financial Holding Group, as a unified entrance through the blockchain.

ChainDD
ChainDD

Feb 09

According to People's Daily News, on February 7, Beijing's blockchain-based supply chain credit and debt platform has been officially launched. This platform uses the Beijing Xiaowei Financial Services Platform, a subsidiary of Beijing Financial Holding Group, as a unified entrance through the blockchain. The underlying technology enables the government and the state-owned enterprises to purchase accounts receivables, and aggregates various financial resources such as financing guarantees and asset management to provide SMEs with comprehensive supply chain financial services.

The main functions of the platform include: providing proof of account confirmation based on blockchain technology, and supporting online management of the confirmation process; supporting SMEs to initiate financing needs online after obtaining the confirmation of the authorization, and launching the " Loan of rights confirmation" products; support banks to review financing applications, credit management and loan management.

On February 5, the Beijing Municipal Government issued "Several Measures on Dealing with the Impact of  Pneumonia of New Coronavirus Infection and Promoting the Sustainable and Healthy Development of SMEs," which explicitly stated that a blockchain-based supply chain credit and debt platform will be established to provide SMEs that participate in government procurement and state-owned enterprise procurement with right-confirmation financing services.

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